SOS Regains Compliance with NYSE Minimum Price Continued Listing Criterion
July 22 2022 - 4:30PM
SOS Limited (NYSE: SOS) (the "Company" or "SOS") today
announced that it has received a notification letter from the New
York Stock Exchange (the "NYSE") dated July 14, 2022, informing the
Company that it has regained compliance with the NYSE's continued
listing criterion of a minimum share price as set forth in Section
802.01C of the NYSE Listed Company Manual.
As previously announced, the Company received a
letter from the NYSE dated January 14, 2022 notifying the Company
that it was below compliance standards due to the fact that the
average closing price of the Company's American Depositary Shares
(the "ADSs") was less than $1.00 for a consecutive 30 trading-day
period. In order to regain compliance with the minimum share price
requirement, the Company changed the ratio of the ADSs representing
its Class A ordinary shares from one (1) ADS representing ten (10)
Class A ordinary shares to one (1) ADS representing five hundred
(500) Class A ordinary shares. The change of the ADS ratio became
effective on July 6, 2022.
On July 14, 2022, NYSE provided confirmation to
the Company that its average closing share price for the
consecutive 30-trading days ended July 14, 2022 was above the
NYSE's minimum requirement of $1.00 per share. Accordingly, the
Company is no longer considered below the $1 continued listing
criterion and has regained compliance on this matter.
Additional information concerning these and
other factors that may impact our expectations and projections can
be found in our periodic filings with the SEC, including our Annual
Report on Form 20-F for the fiscal year ended December 31,
2021.
SOS's SEC filings are available publicly on the
SEC's website at https://secure.ice/?www.sec.gov. SOS disclaims any
obligation to update the forward-looking statements, whether as a
result of new information, future events or otherwise. Shareholders
who are interested in the 2021 Annual Report can click on the
following link to download it free of charge: 2021 Annual
Report
Safe Harbor Statement
This press release contains forward-looking
statements made under the "safe harbor" provisions of Section 21E
of the Securities Exchange Act of 1934, as amended, and the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. SOS
may also make written or oral forward-looking statements in its
reports filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including statements about SOS’
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Further information regarding risks, uncertainties or
factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. All information provided in
this press release is current as of the date of the press release,
and SOS does not undertake any obligation to update such
information, except as required under applicable law.
About SOS Limited
SOS is a new high-tech company with artificial
intelligence and blockchain as its core technologies. Through core
technologies such as AI, block technology, satellite communication
and big data, the company provides digital technical services for
emergency rescue, big data marketing, international trade, digital
assets and other industries, and provides customers with one-stop
digital overall solutions. For more information, visit
www.sosyun.com.
SOURCE SOS Limited
Contact:Steven LiChief Financial
Officerstevenli@sosyun.com+8613816822093
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